Innsworth is challenging the Competition Appeal Tribunal’s decision to approve a £200m settlement between class representative Walter Merricks and Mastercard, which was initially valued at £14bn. It argues it deserves more than the £68m it received from the settlement.
Jeremy Marshall, chief investment officer of Winward Litigation Finance, said the decision was ‘positive for the litigation funding industry and the UK’s opt-out regime as a whole.
‘The judicial review will also provide much needed transparency with regards to the tribunal’s approach to what it considers to be an appropriate return for litigation funders, who invest tens of millions of pounds on a non-recourse basis for many years in cases that aim to secure damages from companies that often have been found by regulators to have broken the law.’
